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FLIR Systems Inc. has announced that it has entered into a definitive merger agreement to acquire ICx Technologies Inc., a provider of integrated advanced sensing technologies.

The purchase price is about $274 million. The terms of the agreement involve a subsidiary of FLIR that will commence a cash tender to purchase all outstanding common stocks of ICx for $7.55 per share. Any share not purchased in the first tender will later be acquired in the second-step merger at the same price per share.

The acquisition expands FLIR's capabilities into "advanced sensors for chemical, biological, radiological, nuclear and explosives detection for defense and homeland security markets," the company said. These expansion will take place when ICx's operations are integrated into FLIR's Government Systems Division.

"We are pleased to announce this compelling transaction and intend to work diligently towards its consummation," commented Earl Lewis, president and CEO of FLIR.

FLIR Systems designs, manufactures and markets thermal imaging and stabilized camera systems for a wide variety of thermography and imaging applications, including condition monitoring, research and development, manufacturing process control, airborne observation and broadcast, search and rescue, drug interdiction, surveillance and reconnaissance, navigation safety, border and maritime patrol, environmental monitoring and ground-based security.
www.flir.com

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Baldor Electric Co., which markets, designs and manufactures industrial electric motors, mechanical power transmission products, drives and generators, has announced that current CEO John McFarland plans to step down on Dec. 31, 2010. The board of directors also promoted Ronald Tucker to CEO and president effective Jan. 1, 2011.

McFarland will, however, remain active as executive chairman and retain his position as chairman of the executive committee. He recently celebrated his 40th anniversary with the company. 

"With sales growing and operating profits at record margins, this is the right time for me to step back from the day to day operations," McFarland said. "During 2011, I will work a reduced schedule and focus my time on growth opportunities for Baldor."

His replacement, Tucker, currently serves as president and chief operating officer (COO) and has been a member of the board of directors since 2007.  Tucker has been with Baldor for more than 24 years, and he has been responsible for various aspects of the business including finance, manufacturing, and international sales and operations.

Tucker said, "I am honored to be chosen as only the sixth CEO in Baldor's 90-year history. Baldor is better positioned than ever to take advantage of the opportunities we have today and in the future. Continuing the success of the Company and maintaining the strong culture we have developed at Baldor will be the priorities moving forward."
www.baldor.com

MMFX Steel of Canada Inc. in St. Catharines, Ont., was fined $120,000 last week for a violation under the Occupational Health and Safety Act that caused a worker's death.

On Jan. 20, 2009, at the company's steel mill and foundry in Welland, a worker was walking across the workplace's yard. While crossing the path of a moving front-end loader, the worker fell under the vehicle's wheel. The loader operator did not see the fallen worker. The worker was run over and killed.

MMFX Steel pleaded guilty to failing to install signs, barriers or other safeguards in an area where vehicle or pedestrian traffic may endanger the safety of a worker.

The fine was imposed by Justice of the Peace Bruce Phillips. In addition to the fine, the court imposed a 25-per-cent victim fine surcharge, as required by the Provincial Offences Act. The surcharge is credited to a special provincial government fund to assist victims of crime.
www.ontario.ca/labour